A theoretical prediction on forming limit diagram(FLD) of AZ31 magnesium alloy sheet was developed at warm temperatures based on the M-K theory. Two different yield criteria of von Mises and Hill'48 were applied in this model. Mechanical properties of AZ31 magnesium alloy used in the prediction were obtained by uniaxial tensile tests and the Fields-Backofen equation was incorporated in the analysis. In addition, experimental FLDs of AZ31 were acquired by conducting rigid die swell test at different temperatures to verify the prediction. It is demonstrated from a comparison between the predicted and the experimental FLDs at 473 K and 523 K that the predicted results are influenced by the type of yield criterion used in the calculation, especially at lower temperatures. Furthermore, a better agreement between the predicted results and experimental data for AZ31 magnesium alloy sheet at warm temperatures was obtained when Hill'48 yield criterion was applied.